Sigma Designs reports Fiscal Year 2015 results

Wednesday, April 1st, 2015 
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Sigma Designs, Inc. Reports Financial Results for the Fourth Quarter and Fiscal Year 2015

MILPITAS, CA — Sigma Designs® (NASDAQ: SIGM), a leading provider of system-on-chip (SoC) solutions for SmartTV, Internet of Things (IoT) for Smart home, Media Connectivity and Set-Top-Boxes (STBs), today reported financial results for its fourth fiscal quarter and fiscal year 2015, which ended January 31, 2015.

Fourth Quarter Fiscal 2015 Financial Results

Net revenue for the fourth quarter of fiscal 2015 was $54.8 million, up $1.1 million, or 2%, from $53.8 million in the third quarter of fiscal 2015, and up $16.3 million, or 42%, from $38.5 million in the fourth quarter of fiscal 2014.

GAAP net loss in the fourth quarter of fiscal 2015 was $3.6 million, or $0.10 per share. This compares with a GAAP net loss of $0.6 million, or $0.02 per share, for the previous quarter and GAAP net income of $1.3 million, or $0.04 per share, in the same period last year.

Non-GAAP net income in the fourth quarter of fiscal 2015 was $1.5 million, or $0.04 per diluted share. This compares with non-GAAP net income of $1.5 million, or $0.04 per diluted share, in the previous quarter and a non-GAAP net loss of $4.5 million, or $0.13 per diluted share, in the same period last year.

Fiscal Year 2015 Financial Results

Net revenue in fiscal 2015 was $188.3 million, a decrease of $10.9 million, or 5.5%, from $199.2 million in the previous year.

GAAP net loss in fiscal 2015 was $21.7 million, or a net loss of $0.63 per share. This compares with a GAAP net loss of $11.0 million, or a net loss of $0.32 per share, in fiscal 2014.

Non-GAAP net loss in fiscal 2015 was $4.1 million, or a net loss of $0.12 per diluted share. This compares with non-GAAP net income of $1.1 million, or net income of $0.03 per diluted share, in fiscal 2014.

Recent Highlights

  • We introduced the STV7703 Ultra HD High Dynamic Range (HDR) Smart TV chipset, a single-chip solution that is ideal for the next generation Ultra HD 60Hz Smart TVs. Together with a companion Ultra HD FRC chip, the STV7703 can provide an ideal solution for high end Ultra HD 120Hz TVs.
  • We announced that our Z-Wave chips achieved a milestone in fiscal 2015, reaching 35 million installed devices worldwide.
  • We announced that Z-Wave chips now support Korea’s open frequency, which continues to open new served markets in Asia.
  • We announced that Samsung’s SmartThings and LG Uplus have joined the Z-Wave Alliance Board of Directors.
  • We announced collaboration with Dolby Laboratories to bring enhanced 4K Ultra HD and HD TV to consumers through the use of Dolby Vision, a new imaging technology, which is now supported on our STV7603 and STV7701 Smart TV chipsets.
  • We announced the support of Civolution NexGuard forensic watermarking technology on Sigma’s latest generation Smart TV chipsets, bolstering the depth of our security solutions.
  • We announced that networking supplier Suttle has selected Sigma Designs’ new G.hn chipset for their G.hn Gigabit Ethernet system.